News

Oregon collects millions in marijuana-related taxes

NewsPosted Aug 22 2016

While the Oregon Liquor Control Commision continues to prepare for the state's recreational marijuana industry, medical marijuana dispensaries have been able to sell recreational marijuana with a 25% tax since January. Oregon voters legalized recreational marijuana back in 2014 and the program is expected to be fully operational by next year. In the 6 months from January to July that dispensaries have been able to collect marijuana taxes, there has been $25.5 million turned into the state. Estimates for next year's recreational marijuana taxes shot up from $8.4 to $35 million after this year's numbers were turned in.

Oregon has processed $25.5 million in tax payments from recreational marijuana from January through the end of July.

Anticipated state revenue from recreational marijuana through June 2017 was recently quadrupled by Oregon's Legislative Revenue Office.